Plutus, the mobile payments app that combines Bitcoin and Ethereum, is to hold a crowd sale of its Pluton tokens. The startup has also released a white paper and welcomed some executive talent to the team formerly of PayPal, Visa and Morgan Stanley.
The Plutus white paper states: “Plutus Mobile Application enables a user to make contactless Bitcoin payments at any merchant with a Near Field Communication (NFC) enabled checkout terminal […] Ethereum allows Plutus to deploy smart contracts to enable secure, peer-to-peer (P2P) exchange of ﬁat currency and Bitcoin, with the added beneﬁt of automatic escrow. Using these methods, the Plutus Decentralized Exchange Network (PlutusDEX) of traders convert Bitcoin deposits into a prepaid debit balance that is valid at any contactless point-of-sale (POS) terminal.”
“Plutons are prioritised in the Plutus app and allow users to instantly convert their value to Tap Pay balance for everyday purchases. Only 850,000 Pluton will be available for sale, which represents 4.25%